AGILITAS SPORTS
Rising tech costs drive EMI sales; Shadowfax Q2 profit soars
Happy Friday! Shoppers are turning to EMIs as electronics prices rise. This and more in today’s ETtech Morning Dispatch.
Virat Kohli's stake in Agilitas Sports rises to 6.4% after One8 merger
The merger has been approved by the Mumbai bench of the National Company Law Tribunal (NCLT). The increase in Kohli's shareholding is because of the merger and is not because of any fresh investment by the cricketer. He had earlier invested Rs 40 crore in the sportswear startup.
Virat Kohli becomes Agilitas’ second-largest individual shareholder after one8 merger
Virat Kohli's stake in Agilitas Sports has increased significantly following the merger with his one8 brand. The merger was approved by the National Company Law Tribunal, enhancing Agilitas’ product development capabilities. Kohli invested Rs 40 crore in Agilitas and remains a co-founder of one8. Agilitas aims to build a leading global sportswear brand from India through this integration.
Virat Kohli makes LinkedIn debut: What is his first post reveals about his business ambitions? How he is building his business portfolio
Virat Kohli made his LinkedIn debut to discuss his business interests beyond cricket. He highlighted his investment in Agilitas Sports and co-founding one8world, emphasizing global aspirations for Indian sports brands. Kohli's profile indicates his involvement with various sports-related ventures, showcasing his entrepreneurial ambitions. This platform serves a purpose beyond job searching and recruitment for public figures. As LinkedIn grows in India, celebrity presence may attract more users towards professional networking.
From Mamaearth to Phool: Shilpa Shetty, MS Dhoni, Sachin Tendulkar, Alia Bhatt among celebrity investors to back startups
Celebrity investments: Bollywood stars and cricket legends are increasingly backing Indian startups. A Tracxn report identifies 10 celebrities investing in 34 startups and 49 funding rounds worth $458 million collectively across diverse sectors.
Can Virat Kohli crack India’s celebrity-brand jinx?
Virat Kohli relaunched his lifestyle brand One8 with Agilitas Sports. This venture aims to overcome past challenges faced by celebrity-backed brands. Agilitas brings operational expertise and manufacturing capabilities to the brand. The company is focusing on rapid product development and efficient distribution. Success will depend on consumer repeat purchases within the first year.
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Policybazaar founder warns of insurance squeeze; IT's buying spree
Happy Wednesday! Policybazaar’s Yashish Dahiya has warned that proposed commission caps could disrupt the insurance distribution industry. This and more in today’s ETtech Morning Dispatch.
Nexus, Rainmatter invest Rs 225 crore in Agilitas Sports
Agilitas Sports secured Rs 225 crore from Nexus Venture Partners and Rainmatter. This funding will fuel expansion in manufacturing, brands, and offline retail. The company is building a full-stack sportswear ecosystem. It acquired Mochiko Shoes and launched Lotto and One8 brands. Agilitas is also growing its multi-brand retail format, Sportsyard.
Anushka Sharma acquires minor stake in footwear and apparel brand Agilitas Sports
Film actor-producer Anushka Sharma has acquired a minor stake in Agilitas Sports, joining husband and cricketer Virat Kohli as an investor in the sportswear firm founded by former Puma India executives.
Virat Kohli to sell One8 to Agilitas Sports; invests Rs 40 crore for minority stake
Cricketer Virat Kohli is selling his sportswear brand One8 to Agilitas Sports. He is also investing Rs 40 crore to acquire a minority stake in Agilitas. One8 will now operate as an independent global sports brand. Agilitas is finalizing distribution partnerships for international markets. This marks a new chapter for both One8 and Agilitas.
H-1B shuts out Indian IT; Meesho's grey market pop
Indian IT firms struggle as H-1B approvals plummet. This and more in today's ETtech Top 5.
After turning down Puma, Virat Kohli announces partnership with Agilitas Sports for his One8 brand
Virat Kohli has partnered with Indian sportswear startup Agilitas Sports, bringing his lifestyle brand One8 under its umbrella. He had ended his Puma deal in April and instead invested in Agilitas. The company, which acquired shoe maker Mochiko and raised significant funding, will lead One8’s retail expansion in India and globally.
Kohli retires from Tests: How his brand value is set to soar
Despite retiring from Test cricket, Virat Kohli's brand value is expected to rise, with endorsement fees increasing upon contract renewals. He plans to focus on fewer, larger partnerships, leveraging his widespread appeal across generations and demographics. Brands are eager to continue their association with Kohli, recognizing his strong social media presence and performance-driven connection with consumers, ensuring his enduring marketability.
Virat Kohli invests in aspirational sportswear brand Agilitas as company plans to go global
Virat Kohli is now an investor and co-creator at Agilitas, an Indian sportswear company, after declining Puma's contract renewal offer. He aims to take his brand One8 global, opening stores and leveraging his popularity, similar to Roger Federer's involvement with On. Agilitas, backed by Abhishek Ganguly, plans to launch the brand and expand into markets like the US and UK.
Spring Marketing Capital picks up stake in Agilitas Sports
Agilitas has been expanding its core team and scaling operations over the past year. It is now focusing on marketing efforts with the new partnership.
Off the field: MS Dhoni, Sachin Tendulkar, Virat Kohli, other cricketers start up a different game
New economy has caught the eye of players, many of whom are looking beyond endorsements and taking up investor or founder roles. Dhoni acquired a stake in Bluestone, and Sachin Tendulkar is set to launch a sports shoe brand. Other players, including Yuvraj Singh and Hardik Pandya, are also active in the business space, moving beyond traditional endorsements to equity deals.
Sachin Tendulkar pads up to venture out with a new sports brand
Sachin Tendulkar is set to launch sports athleisure brand with former Swiggy Instamart head Karthik Gurumurthy. Incubated by Whiteboard Capital, the venture aims to compete with top brands through affordable, locally-manufactured products. Tendulkar is actively involved in the development of the products, which will include cricket and badminton gear.
T20 World Cup triumph sends Indian players' valuation soaring
The commercial value of India's T20 World Cup winning team is expected to soar into billions, surpassing the IPL's brand worth. Key players like Hardik Pandya, Jasprit Bumrah, and Surya Kumar Yadav are set to see a significant increase in their market valuation.
Agilitas appoints Nirdosh Chouhan as chief technology and product officer
Nirdosh Chouhan is a member of the founding team at Agilitas Sports. He will lead tech at Agilitas.
Exclusive: Flipkart-Zepto deal talks drop out of cart
Happy Friday! Ecommerce major Flipkart held talks with Zepto for a potential deal. More on that in today’s ETtech Morning Dispatch.
Agilitas acquires Lotto India licence for 40 years
Abhishek Ganguly, the former Puma India head who cofounded Agilitas, told ET that the company will handle the manufacturing and sale of Lotto products in India and across South Asia.
Relationship with Virat Kohli to continue: Puma India
Puma reaffirmed its partnership with Virat Kohli by dismissing reports suggesting Kohli's contemplation of terminating his 8-year-old deal as brand ambassador. Karthik Balagopalan, Managing Director of Puma India said that the association remains intact. Puma enlisted Kohli as its brand ambassador in 2017, sealing a deal estimated to be approximately Rs 110 crore.
Puma, Decathlon, Adidas make a splash! Sports brands see sales gallop in last 2 years
Brands such as Puma, Decathlon, Adidas, Skechers and Asics have all grown 35-60% year-on-year since FY21, posting combined revenues of ₹11,617 crore in FY23, according to regulatory filings sourced from the Registrar of Companies. Two years ago, these brands had sales of ₹5,022 crore put together. Demand for fitness wear and sports equipment for disciplines other than cricket grew as people prioritised health with the onset of Covid-19.
Mithun Sacheti joins Singularity Growth; Agilitas raises Rs 100 crore from Nexus
Mithun Sacheti, who scored a Rs 4,621-crore exit from omnichannel jewellery retailer CaratLane to Titan in August, has joined Singularity Growth as a general partner. This and more in today's ETtech Top 5.
Nexus Venture Partners invests Rs 100 crore in Agilitas Sports
The Agilitas investment from Nexus underscores the growing trend of venture funds looking to back companies in the manufacturing and retail business that leverage technology as an additional layer.
Capgemini sets sights high with Indian talent; govt to mandate NavIC chips in smartphones
With more than half of its employee base in India, IT major Capgemini views India as one of its fastest-growing markets and a talent hub, global chief executive Aiman Ezzat told ET in an exclusive interaction. This and more in today’s ETtech Morning Dispatch.
Winners of ET Startup Awards 2023; HR executives booted out by Google
Powerful contenders, an eminent jury, in-depth dossiers, tension-packed tiebreakers… The meeting to finalise the winners of the Economic Times Startup Awards – 2023 was an action-packed affair. Each of the eight awards was chosen after a lot of intense back and forth, with the most prestigious one going to business-to-business (B2B) ecommerce company OfBusiness. Find out why, and much more, in today’s ETtech Top 5.
Agilitas Sports acquires shoe manufacturer Mochiko
Agilitas Sports, the sportswear and athleisure solutions platform started by former Puma India head Abhishek Ganguly, has made its first acquisition.
ETtech Deals Digest: Funding drought persists as startups raise just $1.06 billion in May
The funding numbers for May were bolstered by late-stage investments in app development startup Builder.ai and Walmart-owned fintech major PhonePe. These two deals together accounted for a third of the total inflow in May.
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